Forget Password

Blog

<< Back

Technical Analysis Report - GBP/USD

27/09/2016 // 10:33:13 am

General Outline:

The dollar remained under pressure against its major rivals as stocks kept digesting the latest Fed’s decision. Moreover, traders were cautious ahead of U.S. Presidential Debates.

Present Scenario:

The downward pressure persisted on Monday. The GBP/USD pair erased all its Friday’s gains and sharply fell from the local high towards the next support at 1.2900. The price stuck in post-Brexit short-term consolidation. The 50, 100 and 200 EMAs maintained its bearish slope and extended their declines in the 4 hours chart. The current resistance is seen at 1.3000, the support exists at 1.2900. 

MACD decreased which confirms the strength of sellers. RSI consolidated within the negative territory.

Trading commendations :   

If the pressure persists the GBP/USD may extend its downward trajectory. The nearest target remains the support level 1.2900, the second target is at 1.2800.

Share Us :

Recent Posts

Technical Analysis Report - GBP/USD

29/09/2016 // 07:44:21 am

General outline

Pound was weighed by Shafik’s dovish comments (the BOE deputy) as

Read More

Technical Analysis Report - USD/JPY

29/09/2016 // 07:41:12 am

General outline

On wednesday, the US currency dollar rose because of profit fixati

Read More

Technical Analysis Report - USD/JPY

27/09/2016 // 10:26:19 am

General outline

The yen strengthened as a safe asset amid a risk aversion. The BoJ chie

Read More

Technical Analysis Report - GBP/USD

26/09/2016 // 08:14:57 am

General outline:

On Friday, The dollar gained market strength against the pound but the

Read More


Email: support@ttsmarkets.com

Contact No: +971 589813411